Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, Riyadh will host the second edition of the Global Labor Market Conference (GLMC), on January 29-30, 2025, reported the Saudi Press Agency (SPA).
The global event will bring together industry experts, thought leaders and policymakers to discuss the latest trends and innovations that are shaping the future of labor market, drawing on Saudi Arabia’s recent progress in labor market indicators and the success of the first edition.
Positive Results
On this occasion, the Saudi Minister of Human Resources and Social Development, Ahmed bin Sulaiman Al-Rajhi, expressed his gratitude for the King’s patronage of this flagship event, organized by the Ministry of Human Resources and Social Development.
He noted that the event will have a positive impact on the Kingdom’s efforts to promote modern practices in the labor market, based on the best international standards.
He also emphasized the significance of this edition in establishing a global platform for discussing opportunities and challenges, as well as innovating strategic solutions for shaping the future of the labor market in line with the ambitious objectives of the Saudi Vision 2030.
Under the patronage of King Salman bin Abdulaziz, the Global Labor Market Conference (GLMC) is returning for its second edition. Get ready to uncover the latest insights and innovations that are shaping the future of labor market. Join industry experts, thought leaders, and… pic.twitter.com/eBhZ0Ewoa6
— Global Labor Market conference (@Global_LMC) September 16, 2024
According to Al-Rajhi, the GLMC will serve as a platform and thinktank for supporting labor market-related research. It will also encourage dialogue and contribute to creating a comprehensive ecosystem for the global labor market, in partnership with the International Labor Organization, the World Bank and UN Development Program.
GLMC Goals
Bringing together over 45 labor ministers from around the world, Global Labor Market Conference aims to lead a global dialogue on the future of labor markets through more than 50 sessions and workshops. The event expects the attendance of over 5,000 participants and 150 speakers, in addition to officials from the public and private sectors.
The Conference’s sessions are designed to exchange ideas and expertise, and enhance cooperation towards positive change in work practices. Furthermore, the GLMC aims to bridge the gaps within the labor market to enable stakeholders to address challenges and come up with innovative solutions that attract talent and allow for excellence in the labor market.
GLMC Main Themes
The Global Labor Market Conference will discuss various topics related to the local and global labor market. Discussions will include tackling skills mismatches that lead to youth unemployment, and how to identify and attract the required skills.
The GLMC will also discuss how to bridge the gap between youth aspirations and the reality of the labor market. Moreover, it will explore which drivers of productivity can be harnessed to create a more level field for workers and increase their productivity.
Additionally, the GLMC will highlight the new skills required for the green economy jobs to ensure an equitable and inclusive green transition. It will also discuss ways to support small and medium enterprises (SMEs) to create more productive jobs.
Saudi Labor Market
Saudi Arabia has recently achieved notable advancements in the labor market, underscoring the Kingdom’s efforts to advance a productive and skillful workforce that support its economic transformation plans under Vision 2030.
According to reports issued by the World Economic Forum (WEF) in 2024, Saudi Arabia has achieved significant progress across various indicators, including flexible working arrangements, ease of finding skilled employees in the labor market, and equal pay for equal work.
Furthermore, the Kingdom surpassed G20 countries in several key labor market indicators, in the period between 2016 and 2021. According to the Labor Market Comparative Report, issued by the Saudi National Labor Observatory (NLO), Saudi Arabia secured the top rank in labor force growth rate, for males and females, compared to all G20 countries.
It also recorded the highest growth rate in the labor force participation rate. The Kingdom also ranked ninth among the top ten G20 countries in terms of employment rate, and eighth in unemployment rate.
